"To make a profit, you have to pay yourself a salary, include the true costs of your employees, and use the right formula to find the selling price of your jobs"

I first learned something
about profit when, after graduating
from college in 1975, I
worked for two years at a nonprofit
educational organization,
earning a subsistence
wage of about $400 per month.
Because I was used to being in
college and living on the
cheap, I thought this was adequate,
since it paid for food
and gas with a little left over (I
had a free room at the time).
When financial troubles forced
the organization to reduce my
wage to $100 per month, I
could no longer make ends
meet. I quit and, having come
from a family of contractors, I
turned to doing small repairs
for friends, and then for their
friends, which is how I got into
the construction